Latest Business News
Trump Defends Economic Record in Record-Long State of the Union Address
US President Donald Trump touted his economic achievements and defended policies during the longest-ever State of the Union address. He pitched tax cuts and addressed tariffs, inflation, and trade amid global tensions.
Traders await Nvidia earnings post-address.
Asian Tech Stocks Surge, KOSPI Hits Record Above 6000
South Korea's KOSPI crossed 6000 for the first time, up 3%, led by Samsung Electronics and SK Hynix. Taiwan and broader Asian markets hit fresh records on Wall Street tech rebound and weaker dollar.
Japan's Nikkei gained on yen weakness after Takaichi's rate stance comments.
HSBC Raises Bonus Pool 10% to $3.93B, Highest in Decade
HSBC increased its bonus pool by 10% to $3.93 billion after full-year earnings beat estimates, driven by strong wealth division performance. The stock rose 2.6% in Hong Kong on net interest and wealth management gains.
This follows profit beats and client income boosts.
China's $112B Cargo Gap Reveals Record US Tariff Evasion
A massive $112 billion gap in China's cargo data indicates widespread evasion of US tariffs. This highlights ongoing trade tensions as Trump pushes tariff policies.
Experts discuss potential impacts on US dollar assets.
Meta to Spend Billions on AMD Gear for Data Centers and AI
Meta plans to deploy billions in AMD products for data centers and AI initiatives, reassuring investors on capex spending. The deal supported Asia tech rally, with semiconductors gaining traction.
This bolsters AMD amid broader chip sector momentum.
Wayve Raises Series D at $8.6B Valuation for Self-Driving Tech
UK startup Wayve secured Series D funding led by Eclipse Ventures, Balderton, SoftBank, with Microsoft, Nvidia, Uber investing. Valued at $8.6B, it aims to launch self-driving Ubers in London this year.
CEO discussed AI and community concerns over data centers.
Anthropic Expands Claude Chatbot with Investment Banking Tools
Anthropic revealed new tools for investment banking and design, expanding Claude chatbot's reach. It emphasizes sector partnerships amid AI growth.
This follows tech sector surges and Nvidia anticipation.
China and Germany Pledge to Deepen Ties Despite Ukraine Divide
Leaders Xi Jinping and Chancellor Friedrich Merz committed to stronger economic ties amid global turbulence and Trump tariffs. Differences persist over Russia's Ukraine war, but they oppose protectionism.
Merz pushes fair play for German firms and China aid on peace.
UBS Warns Private Credit Defaults Could Hit 15% in Worst Case
UBS now projects private credit defaults reaching 15% in a worst-case scenario. This comes amid market outlooks and Trump policy defenses.
Broader concerns tie into economic forecasts.
Wisetech Surges on AI Plan, Slashes Jobs
Wisetech shares surged after announcing AI-driven job cuts as part of efficiency plans. The move aligns with tech sector AI focus and Asian market gains.
Investors react positively to cost-saving strategy.
Australia Consumer Prices Rise 3.8% Y/Y, Beats Estimates
Australia's January CPI rose 3.8% year-over-year, exceeding 3.7% estimates. This supports broader Asia economic data amid stock rallies.
Influences regional investment strategies.
Germany's Imports from China Up, Exports Down Amid Overcapacity Fears
Germany's imports from China rose 8.8% to €170.6B, while exports fell 9.7% to €81.3B last year. Leaders seek to counter Chinese overcapacity in EVs and solar.
Merz visits robotics firm amid trade pushback on Trump tariffs.